Liquidator appointed to high profile Galway based development company

Galway Bay fm newsroom – A liquidator has been appointed to a Galway-based property development company which was involved in one of the biggest pre-crash land deals in the State.

According to documents filed with the Companies Registration Office last month, Patrick Horkan of KPMG was appointed liquidator to Osberstown Developments Ltd.

Osberstown Developments was controlled by developers Tom Considine, Paddy Sweeney and local businessman Gerry Prendergast.

In 2006, they paid over 300 million euro to acquire the Millennium Park complex in Naas, which comprised more than 400 acres of offices and land suitable for development.

It was then sold by Nama in mid-2015 for about 36 million euro to investors headed by Tetrarch Capital.

According to the Irish Times, the latest set of accounts filed for Osberstown was for 2013, when it closed the year with net liabilities of 460 million euro.